Cheap Apartments for Rent in the Thirty-Eighth & Shadeland Neighborhood of Indianapolis, IN from $400 (44 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Thirty-Eighth & Shadeland area of Indianapolis.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Emerson Place
1 to 3 Bedroom Apartments

Emerson Place

2110 Emerson Knoll PlIndianapolis, IN 46218
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3825 N Whittier Pl
1 Bedroom Apartments

3825 N Whittier Pl

3825 N Whittier PlIndianapolis, IN 46226
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East Ridge
1 to 3 Bedroom Apartments

East Ridge

2302 N Ritter AveIndianapolis, IN 46218
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Peppermill Farms
1 to 2 Bedroom Apartments

Peppermill Farms

6830 Mill View DrIndianapolis, IN 46226

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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1745 N Ritter Ave
1 Bedroom Apartments

1745 N Ritter Ave

1745 N Ritter AveIndianapolis, IN 46218
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Bellagio Living II
1 Bedroom Apartments

Bellagio Living II

8953 Brigadier DrIndianapolis, IN 46226
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Lawrence Landing
1 to 2 Bedroom Apartments

Lawrence Landing

6875 Faris AveIndianapolis, IN 46226
  • Utilities Included
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Braeburn Village
1 to 4 Bedroom Apartments

Braeburn Village

2170 Braeburn East DrIndianapolis, IN 46219

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Lawrence Glen
1 to 2 Bedroom Apartments

Lawrence Glen

8633 E 46th StIndianapolis, IN 46226
Showing Results 1-44, Page 1 of 1

Thirty-Eighth & Shadeland, Indianapolis, IN Local Guide

Cheapest Available Thirty-Eighth & Shadeland Apartments for Rent

 

The cheapest available apartment rental in the Thirty-Eighth & Shadeland area of Indianapolis, IN is a Studio unit found at Franklin Studios priced from $665. Olivewood has the second lowest priced unit, which is a Studio apartment currently listed from $750. Here are the most affordable Thirty-Eighth & Shadeland apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Franklin StudiosStudioStudio,1BA$665
OlivewoodStudioStudio,1BA$750
Maison Gardens Apartments2 BDR Remodeled2BR,1BA$780
Kingston Square ApartmentsThe AshStudio,1BA$799
Brookhaven Apartments1 Bed 1 Bath1BR,1BA$825
Arlington Green (Indy Town)Arlington Green 2 bedroom2BR,1BA$840
Greenway ApartmentsGreenway 2 bedroom (Large)2BR,1BA$865
Parkhaven Apartment HomesWaitlist - 1 Bedroom 1 Bath Apartment1BR,1BA$899
Frederick SquareFrederick Square 2 bedroom2BR,1BA$905
The Prairies Apartment Homes1x1 Classic1BR,1BA$909

Best Value Apartments for Rent in Thirty-Eighth & Shadeland, IN

As of June 21, 2026 the best value apartment in the Thirty-Eighth & Shadeland area is the $1.07 price per square foot 2 BR / 1.5 BA Model at Shadeland Terrace Townhomes w/Full Basements in the in the Southeast Indianapolis neighborhood starting from $1,395. The second greatest value Thirty-Eighth & Shadeland apartment is the The Estate - Two Bedroom 1.5 Bath Model at Paragon Park starting at $1,299 with a $1.06 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for Thirty-Eighth & Shadeland apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Shadeland Terrace Townhomes w/Full Basements2 BR / 1.5 BA2BR,1.5BA$1.07
Paragon ParkThe Estate - Two Bedroom 1.5 Bath2BR,1.5BA$1.06
Brookhaven Apartments2 Bed 1 Bath2BR,1BA$0.89
60 - ADDISON APARTMENTSAddison Apts - Gorgeous 2 Bed/1 Bath Apt2BR,1BA$0.96
Apartments @ Marten Court2x1 with washer/dryer2BR,1BA$1.23
The Reserve at Franklin Glenn2 Bedroom 2 Bathroom2BR,2BA$1.30
Park Forest Apartments2BR/1BA2BR,1BA$1.19
Frederick SquareFrederick Square 2 bedroom2BR,1BA$1.02
Greenway ApartmentsGreenway 2 bedroom2BR,1BA$1.02
Arlington Green (Indy Town)Arlington Green 2 bedroom2BR,1BA$1.23

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

Learn About the Best Neighborhoods to Rent Near College Campuses in Indianapolis, IN | Find Charlotte Indianapolis Student Housing at ApartmentHomeLiving.com

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Thirty-Eighth & Shadeland, Indianapolis, IN

Ranked #196

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Frequently Asked Questions about Cheap Thirty-Eighth & Shadeland Apartments

What is a cheap apartment in Thirty-Eighth & Shadeland?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Thirty-Eighth & Shadeland is under $909.

What is the price of a cheap apartment in Thirty-Eighth & Shadeland?

The cheapest apartment in Thirty-Eighth & Shadeland is Maison Gardens Apartments which is listed at $785, while the average apartment in Thirty-Eighth & Shadeland costs $1,825.

What types of apartments are the cheapest in Thirty-Eighth & Shadeland?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 13 regular apartments in Thirty-Eighth & Shadeland that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Thirty-Eighth & Shadeland?

Cheap apartments in Thirty-Eighth & Shadeland have an average cost of $250 which is $1,575 cheaper than the average rent for all rentals in Thirty-Eighth & Shadeland.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Helpful Local Expert Guides

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A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis

Written by: Wendy Melton

Indianapolis is not only the state capital of Indiana, it’s also a shining example of what Midwestern living is all about. I’m Wendy, your ApartmentHomeLiving.

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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

Written by: Wendy Melton

Indianapolis is well-known for being one of the top college cities in the country. Local colleges and universities are ranked in the Top 10 when it comes to sports and academic excellence.

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Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods

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My name is Wendy, and I've lived in Indiana for most of my life. Indianapolis is our state capital, and many people consider it the heart of the Midwest. People come from all around to explore everything Indianapolis has to offer.

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Articles, How-To's, and Tips

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

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There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

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Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.